16th June, 2015 7:15pm
National Comments
Maggi Noodles,Nestle India,Nestle India to recall noodles,Food Safety and Standards Authority of India,FSSAI,Nestle India informed Bombay Stock Exchange
All you need to spend is just 2-minutes to satisfy the hunger pangs with Maggi Noodles. But for Nestle India to recall noodles from stores across the country and destroy them as per the orders of Food Safety and Standards Authority of India (FSSAI), it costs the company at least Rs 320 crore and several working days.
Nestle India informed Bombay Stock Exchange that the value of stock available in the market is Rs 210 crore and Materials in the factories and distribution centres were worth any where around Rs 110 crore.
Until now, Nestle India has brought back 11,483 tonnes of Maggi noodles from its distributors. On June 9th, The company began the destruction process and just 169 tonnes have been destroyed till date. It hired furnaces (enclosed structure where materials can be heated at high temperatures) of few Cement Manufacturers for the carrying out the destruction exercise.
Nestle India have altogether 38 Distribution Centres, 1,400 distributors and 3.5 million retailers across the country. It would actually take not less than 40 days to complete the destruction exercise involving 27,420 tonnes of noodles as the capacity of five furnaces used by Nestle for the process is just 700 tonnes. Shortage of labour could only stretch the whole process further.
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